LiveMLS X13556312Buy & hold

1408 ERNEST AVENUE · Multi-family

London, ON · Multi-family · 3 units

$3,900,000listed

Workable offer

London market brief →

RentCapPrice/door

Locked, not loading — the underwrite opens with a trial or an account.

Score

DSCR

Cash to close

All-in with reserves

Sign in for the underwriteA licensed broker reads it and replies by email, usually within a business day.View on Realtor.ca

What this listing is

1408 ERNEST AVENUE is a 3-unit multi-family in London, ON, asking $3,900,000 — $1,300,000 per door.

That sits above the London band of $210k - $360k per door. A price above the band has to be earned by rents, condition, or upside that the listing has not yet shown. London cap rates screen 4.5% - 5.8% against average rent near $1,900 a door.

At 3 units this finances as residential, not commercial — MLI Select starts at five units. The qualifying rate still applies: federally regulated lenders test a 1–4 unit rental at the greater of your contract rate plus two points or 5.25%.

London is useful for student and small-multifamily strategies, but management and licensing drive outcomes. Investor demand reads medium, vacancy balanced.

Asking price: $3,900,000
Units: 3 units
Property type: Multi-family
Location: London, ON
Price per door: $1,300,000
London cap band: 4.5% - 5.8%
London average rent: $1,900

The underwrite — investment score, cap rate on the real rent roll, DSCR at the qualifying rate, cash to close, and the offer band this desk would actually bid — opens with a free account.